Stock Traders Buy Large Volume of Call Options on Chemours (NYSE:CC)

The Chemours Company (NYSE:CC) saw some unusual options trading on Monday. Stock investors bought 42,884 call options on the company. This represents an increase of 787% compared to the typical daily volume of 4,836 call options.

Chemours Stock Performance

CC opened at $23.34 on Tuesday. Chemours has a 52-week low of $9.13 and a 52-week high of $24.13. The firm has a market capitalization of $3.50 billion, a PE ratio of -9.41 and a beta of 1.41. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.85 and a current ratio of 1.78. The business’s 50-day simple moving average is $19.94 and its 200 day simple moving average is $15.76.

Chemours (NYSE:CC) last released its earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the company posted $0.09 earnings per share. Chemours’s revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts expect that Chemours will post 1.35 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a yield of 1.5%. The ex-dividend date was Friday, February 27th. Chemours’s dividend payout ratio is presently -14.11%.

Institutional Trading of Chemours

Several institutional investors and hedge funds have recently bought and sold shares of CC. Vanguard Group Inc. raised its stake in Chemours by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 17,920,868 shares of the specialty chemicals company’s stock valued at $211,287,000 after buying an additional 490,778 shares during the period. State Street Corp raised its stake in Chemours by 22.7% in the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock valued at $70,009,000 after buying an additional 1,131,682 shares during the period. Ameriprise Financial Inc. raised its stake in Chemours by 13.8% in the third quarter. Ameriprise Financial Inc. now owns 4,796,153 shares of the specialty chemicals company’s stock valued at $75,971,000 after buying an additional 580,089 shares during the period. UBS Group AG raised its stake in Chemours by 0.3% in the third quarter. UBS Group AG now owns 4,754,492 shares of the specialty chemicals company’s stock valued at $75,311,000 after buying an additional 14,865 shares during the period. Finally, Cooper Creek Partners Management LLC bought a new stake in Chemours in the third quarter valued at approximately $63,103,000. Institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on CC shares. Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a report on Wednesday, January 21st. JPMorgan Chase & Co. boosted their price target on Chemours from $13.00 to $17.00 and gave the company a “neutral” rating in a report on Monday, February 23rd. BMO Capital Markets cut their price target on Chemours from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, February 23rd. Royal Bank Of Canada set a $26.00 price target on Chemours and gave the company an “outperform” rating in a report on Friday, April 10th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $17.00 target price on shares of Chemours in a report on Monday, February 23rd. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Chemours currently has an average rating of “Hold” and a consensus target price of $20.40.

About Chemours

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.